Malabar Gold’ to enhance presence in Punjab region

ET Bureau|

Jan 12, 2018, 11.21 PM IST

0Comments

Currently, Malabar Gold has 197 showrooms of which 90 showrooms are in India and other 107 showrooms abroad.

CHANDIGARH: Malabar Gold and Diamonds, one among the world’s largest five jewellery retail chains, is fast expanding its global footprint by adding another 11 new showroom across six countries. The 11 showrooms were inaugurated in a single day on January 12th. The opening of new showrooms will take the total retail network of the jeweler to 208. This is for the first time that an Indian jewellery retail chain has been opening such a large number of showrooms spread across six nations in a single day.

The Group opens showrooms in a string of malls in the UAE such as Al Khail Mall, Al Hazana Lulu Mall, Al Buhaira Lulu Mall, Sahara Centre, Ajman City Centre, Mall of Qatar in Qatar, Lagoona Mall, Muscat City Centre in Oman, AMK Hub in Singapore, Ampang Mall in Malaysia, and Warangal in Telangana, India.

Currently, Malabar Gold has 197 showrooms of which 90 showrooms are in India and other 107 showrooms abroad. The rapid expansion of showrooms across geographies is part of the Group’s strategy to fast expand its global footprint. In 2017 alone, Malabar Group has opened 27 showrooms across nations.

“We are getting wide acceptance in the global market place. This is the major reason we are expanding our global presence”, said Malabar Group Chairman MP Ahammed. “Our core business values such as adherence to transparency, honesty, quality along with our value added services, product designs that suited to every class of customers’ taste cutting across age group are the key factors that give us global acceptance”, he said adding “In 2018, we will be opening more showrooms as well as manufacturing units. This will fuel our vision to become the top jewellery retailer in the world”.

As part of its global expansion plans, Malabar Gold will be opening another 50 showrooms in this year in different formats in various countries. “We will be expanding into new horizons, marking our presence in countries such as the US, Sri Lanka, Brunei, and Bangladesh”- said Malabar Gold & managing director of International Operations Shamlal Ahammed. It has decided to organize a grand ceremony at Al Hazana in Sharjah to celebrate crossing the milestone of 200 showrooms globally.

“The group is planning to set up more showrooms as well as manufacturing units in the country, eventually generating more employment opportunities and enhancing initiatives like `Make in India’ being implemented by the Government of India” -said O Asher, Managing director, India Operations, Malabar Gold & Diamonds.

The Group has earmarked five percentage of it’s annual profit for CSR activities in five key areas such as housing, health, environment, women empowerment and education.

Malabar Gold and Diamonds is part of the Rs 30,000 Crore Malabar Group of companies with interest in diversified businesses including real estate.

0Comments

Are you a Business Owner? Get Your Free Business Listing on Economic Times.